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January 30, 2013

Baird Hires Wells Fargo Recruiter

Peter Miller will lead the employee-owned group’s efforts to add financial advisors in the Northeast

Baird said Wednesday that it added a recruiter from Wells Fargo (WFC) to help it target advisors in the North East. Peter M. Miller (left) came on board the employee-owned wealth management firm as a senior vice president and will be based in St. Louis. Baird’s headquarters are in Milwaukee, and the firm includes about 700 advisors.

“Peter is highly regarded within the industry, and is a strong addition to our Private Wealth Management business and to Baird,” said John Mabee, vice chairman of Baird’s Private Wealth Management group, in a press release. “He brings deep industry knowledge, established relationships with legacy A.G. Edwards advisors and an appreciation for Baird’s unique culture that will help us build on the success we’ve had attracting top talent to best meet the needs of our clients.”

Miller, who has 30 years of industry experience, will help recruit veteran advisors with an intent to open and manage a new wealth management office in the Northeast. He will be working from Baird’s office in St. Louis.

Until recently, Miller was a member of Wells Fargo Advisors’ senior leadership team and led the firm’s Advisor Development Group, which did recruiting, training and development for branch managers and financial advisors.

(St. Louis-based Wells Fargo Advisors says its total headcount was 18,662 as of Dec. 31, up from 18,277 in the previous quarter; the number of traditional, nonbank employee advisors as of Dec. 31 was 10,945 vs. 10,857 on Sept. 30.)

Miller spent most of his 30-plus years in the industry with A.G. Edwards & Sons, which was acquired by Wachovia and then bought by Wells Fargo, though he began his financial services career as a financial advisor with Kidder, Peabody & Co.

“I’ve long admired Baird and couldn’t be more pleased to be joining a company whose talented associates are so committed to putting their clients’ needs first,” Miller said in a statement. “I look forward to helping the firm grow by sharing with others in the industry Baird’s great story, its collaborative culture and its impressive lineup of services that will help advisors serve their clients.”

Baird says that it has added more than 250 financial advisors and branch managers since early 2009. It also has opened offices in Fort Worth, Texas; Salt Lake City; Portland, Ore.; and Portland, Maine.